From: Erik Aronesty <erik@q32•com>
To: Billy Tetrud <billy.tetrud@gmail•com>,
Bitcoin Protocol Discussion
<bitcoin-dev@lists•linuxfoundation.org>
Subject: Re: [bitcoin-dev] Bitcoin covenants are inevitable
Date: Thu, 7 Jul 2022 10:05:25 -0400 [thread overview]
Message-ID: <CAJowKgL++JGnKeh5b31ZtT36+ZWANPUp9EJDRzLqCuPXJDS=Hg@mail.gmail.com> (raw)
In-Reply-To: <CAGpPWDbKjSXKHaUcevzG1DtdP-WksO3Ak+1J2JWTeCG2=3GgLQ@mail.gmail.com>
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.
>
> My thoughts on this are that we will need to periodically make some
> software change to adjust a *target amount of investment in security*,
> because the
>
I think perhaps you're underestimating the degree to which utility can be
added to the main chain to encourage fees.
For example, lightning channel open and close transactions are more
valuable, via aggregation, than simple money transfers.
The value of higher utility transactions goes up fairly quickly.
There is no end of the possibility of fee levels in response to increased
utility
Other networks have clearly proven the extremes of this, with rampant fees
appearing rapidly in response to higher utility levels
Because this has already been proven on other networks, we can plan to
gradually increase the utility of on-chain transactions in response to
reward reductions
This should be more than sufficient to offset and maintain sufficient
security
... Hence the title of this thread.
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next prev parent reply other threads:[~2022-07-07 14:05 UTC|newest]
Thread overview: 55+ messages / expand[flat|nested] mbox.gz Atom feed top
[not found] <mailman.9.1654344003.14400.bitcoin-dev@lists.linuxfoundation.org>
2022-06-04 12:27 ` John Carvalho
2022-06-04 13:48 ` Keagan McClelland
2022-06-04 16:12 ` alicexbt
2022-06-06 13:02 ` Erik Aronesty
2022-06-12 3:36 ` Peter Todd
2022-06-12 13:02 ` Erik Aronesty
2022-06-12 16:35 ` Corey Haddad
2022-06-12 19:16 ` alicexbt
2022-06-19 10:31 ` Peter Todd
2022-06-19 15:54 ` Manuel Costa
2022-06-19 18:26 ` Kate Salazar
2022-06-19 22:35 ` Erik Aronesty
2022-06-21 19:00 ` Keagan McClelland
2022-06-21 20:10 ` Eric Voskuil
2022-06-23 19:17 ` Peter Todd
2022-06-28 3:55 ` Billy Tetrud
2022-06-28 16:23 ` Alex Lee
2022-06-28 23:22 ` Peter Todd
2022-06-29 5:02 ` Alex Lee
2022-06-28 23:20 ` Peter Todd
2022-06-29 10:44 ` Kate Salazar
2022-06-30 15:25 ` Billy Tetrud
2022-07-03 9:43 ` Peter Todd
2022-07-03 10:30 ` Giuseppe B
2022-07-06 4:28 ` Corey Haddad
2022-07-06 11:10 ` vjudeu
2022-07-07 0:46 ` Billy Tetrud
2022-07-07 12:15 ` vjudeu
2022-07-07 14:05 ` Erik Aronesty [this message]
2022-07-07 14:10 ` Giuseppe B
2022-07-08 5:03 ` Billy Tetrud
2022-06-30 17:04 ` Erik Aronesty
[not found] <mailman.9.1657195203.20624.bitcoin-dev@lists.linuxfoundation.org>
2022-07-07 13:24 ` John Carvalho
2022-07-07 14:12 ` Peter Todd
2022-07-07 16:24 ` Eric Voskuil
2022-07-07 17:37 ` Erik Aronesty
2022-07-07 19:57 ` Eric Voskuil
2022-07-07 21:11 ` Erik Aronesty
2022-07-08 0:28 ` Eric Voskuil
2022-07-08 4:59 ` vjudeu
2022-07-08 7:26 ` John Carvalho
2022-07-08 15:14 ` Erik Aronesty
2022-07-14 4:55 ` Billy Tetrud
2022-07-07 22:06 ` Anthony Towns
2022-07-07 22:02 ` Corey Haddad
2022-06-03 18:39 alicexbt
2022-06-04 0:29 ` micaroni
2022-06-04 18:43 ` Jorge Timón
2022-06-05 4:18 ` alicexbt
2022-06-08 3:51 ` Billy Tetrud
2022-06-08 9:22 ` Jorge Timón
2022-06-09 4:30 ` Billy Tetrud
2022-06-09 0:03 ` Ryan Grant
2022-07-19 4:44 ` Anthony Towns
2022-07-19 14:46 ` alicexbt
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